Bitcoin Price $72,000 Within Reach

Bitcoin Price $72,000 Within Reach

Time Stamp: March 11, 2024 4:47 AM

We normally don’t do this on a Monday to give way to the weekly local newsletter, but still welcome to BitPinas Key Points: Easily digestible news in concise formats for easy reading. Let’s check the latest crypto news stories in the last 24 hours (and the last week).

Crypto Price Update

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Market News: Bitcoin Price New All-Time High

Bitcoin and Major Coins

  • Bitcoin reached a new all-time high, touching $71,000. This milestone marks a significant moment in the digital currency’s history, reflecting a strong market trend.
  • Ether, following closely behind, returned to a price point of $4,000, demonstrating a sustained interest in major cryptocurrencies.
  • In the broader cryptocurrency market, Binance Coin (BNB) and Solana (SOL) also experienced notable price movements. BNB is trading at $520, while SOL reached $150.

Where are we heading?

Analyst Willy Woo suggests we have now entered a full-blown bull market phase, with real investors buying despite higher prices.

Possible Reasons for the Rally:

  • Increased investor optimism surrounding spot ETFs and the upcoming Bitcoin halving.
  • Liquidation of large short positions, further pushing prices upwards.
  • Rising open interest in crypto futures contracts, indicating heightened market activity.

Philippine Crypto News

Binance story continues

Everyone thought, including BitPinas that the Binance story ended with the local SEC not pursuing the banning of the exchange. We were all wrong.

  • The SEC Chairman Aquino said the matter will be addressed at some point. The delay is just because of the transition within the ranks of the SEC.
  • Meanwhile, two press releases from the SEC said the NTC has implemented its request to block MiTrade and OctaFX, two of the exchanges then-Commissioner Kelvin Lee said they intend to block off the Philippine crypto space.

Other local crypto news on BitPinas

Other Major News

  • Worldcoin is considering to pursue legal action in Spain.
  • Cryptopia has returned crypto funds to some creditors.
  • Bitwise is saying Ethereum could go as high as $10,000 this year.
  • U.S. SEC delays decision on Bitcoin Options ETF.
  • Axie Infinity Classic Guild Feature Now Live
  • The U.S. SEC delays its decision on Ethereum ETF applications.
  • Shapeshift settles with the U.S. SEC, which charged it of selling crypto securities.
  • Terra’s Do Kwon avoids extradition to the U.S.
  • Binance delists Nigeria’s Naira after intense government scrutiny.
  • Coinbase is now back in U.S. App Store’s top 100 apps.
  • Tether (USDT) tops $100 billion in circulation.
  • Eigenlayer’s total value locked surpasses $10 billion.

This article is published on BitPinas: CryptoPH Roundup and Key Points: Bitcoin Price $72,000 Within Reach

Disclaimer:

  • Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
  • BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

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